Payouts and cancelations

General
1

Hi all,

Could somebody point me to where can read about automated payouts to the hosts and how return/cancelation payments work?

Kes.

4

Hi,

If you need to process payouts automatically, use Stripe Connect.

You can set up Stripe Connect by following these steps:

  1. Create your company’s main Stripe Connect account via the Stripe website.

  2. Set its API key (setting up the Stripe Connect account and getting the API key is described in the Stripe docs) in HivePress > Settings > Integrations > Stripe

  3. Select Stripe Connect as the payout system in HivePress > Settings > Payouts.

Now vendors will have to create a linked express account while they add their first listing (or via the Set Up Stripe Payouts link in their account), and the profile completion form will redirect them to Stripe onboarding. Then all the earnings from completed orders will be automatically processed.

If the user has canceled the payment, then by default, the administrator should make a refund.

If you also allow vendors to make refunds you can enable this in HivePress/Settings/Orders section, then orders with Processing status will have the Refund Order link (this way vendors can make partial refunds, e.g. according to their cancelation policies).

8

Hey andrii,

Ill re arrange my questions

  1. can i do it automatically using other companies or is it by their plugin intergration and developers work.

  2. how do i set up the rates of my fee + tax etc . Or is it done manually.

9

Follow up question.

For example ive used a third party credit cpmpany to move theoney arpund automatically. Where do they input their bank accounts?

12

Hi,

You can set up a commission in HivePress > Settings > Hosts > Selling.

If you want to enable automated payouts on your website, you can set up Stripe Connect, please refer to their doc Stripe Connect | Stripe Documentation.

13

I have no intention of using stripe cause of the high fees. Just wanted to know if third party can be intergrated aswell

14

Hi,

Unfortunately, only Stripe Connect is available for automatic payouts, but we plan to add more payout methods.

15

but is it possible for a third party developer to make it automatic?

16

Yes, any customizations are possible but this depends on the complexity of code changes. I recommend manual payouts as a temporary solution, if using Stripe Connect is not an option. With manual payouts you can offer sellers a few options to choose from, the downside is processing payouts manually (but processing payouts monthly reduces transaction fees).

17

we are in talks right now before the launch of course doing it monthly is a possibility and probably where we (me and my partner business is going). but still we are in talk with companies to be able to do in on monthly basis automatically with developers they provide.

and ye from what i checked it daily basis transfers may also cause a trouble financially for charge backs and refunds. so monthly is probably the safest and cheaper than daily.

and when u said “depends on the complexity of code changes” code changes to what did u refer? their plugin, your plugins?

19

Sure, if you offer recurring or one-time monthly bookings this would make more sense. We also plan to release this feature (for recurring weekly/monthly bookings).

The required changes depend on the needed functionality, maybe HivePress Bookings will be customized, maybe a third-party solution that you want to integrate - this requires some research. But I meant that if you have a developer for custom work then anything is possible to implement, but this depends on the efforts and time required.

20

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